MBA in Canada: Top Universities, Fees, Requirements, Eligibility & Scholarships

Do you know? India ranks as the second-largest source of international students, with approximately 1.3 million students studying abroad, following China.

Canada is one of the most popular destinations for MBA in Canada aspirants, with a growing number of Indian students choosing the country for their business education. Along with the UK and the US, Canada accounts for around 72% of Indian student mobility. 

Top B-schools like the University of Toronto (Rotman School of Management) and McGill University (Desautels Faculty of Management) offer top MBA in Canada programs, attracting talent from across the globe. These universities consistently feature among the best universities in Canada for MBA, making them highly sought after by international students. 

Canada not only offers world-class education but also a high quality of life, cultural diversity, and strong post-study work opportunities. International students can apply for a Post-Graduation Work Permit (PGWP) for up to 3 years (depending on the program length), allowing them to gain valuable work experience and explore pathways to permanent residency. 

When planning your MBA journey, it’s essential to understand the MBA in Canada fees and overall MBA in Canada cost. Tuition fees vary depending on the university and program, and some of the top MBA schools in Canada offer scholarships to ease the financial burden. 

This guide will walk you through everything you need to know about pursuing an MBA in Canada, including top MBA colleges in Canada, admission requirements, program specializations, and potential career opportunities, including insights on MBA graduate salary in Canada. 

• Explore top GMAT-free MBA programs in Canada and boost your career prospects. 
• Discover affordable MBA programs in Canada for Indian students and save on tuition! 
• Unlock scholarship opportunities for MBA in Canada and reduce your tuition costs! 
• Check if you meet the eligibility for MBA in Canada and start your application today. 

MBA in Canada: Overview

An MBA in Canada is a powerful degree for higher positions, increased earning potential, and a wealth of opportunities, especially for those aspiring to lead or launch their own ventures.

For Indian students, the impact of earning an MBA in Canada is even more significant. Among the various MBA specializations, such as finance, healthcare, and consulting, the consulting sector stands out as a top choice for MBA graduates in Canada. Around 25-30% of these graduates pursue consulting roles.

Here are the key benefits of pursuing an MBA in Canada:

1. World-Class Business Schools

Canada hosts several globally recognized MBA recognized top MBA colleges in Canada:

• Rotman School of Management, University of Toronto: Ranked 39th globally in the QS global MBA rankings 2025.
• Desautels Faculty of Management, McGill University: Placed 66th globally in the QS rankings 2025.
• Ivey Business School, Western University: Ranked 49th in QS university ranking for masters in management.

2. Strong Networking and Career Opportunities

MBA graduates from top MBA schools in Canada benefit from robust employment prospects:​

• Rotman School of Management: Approximately 89% employment rate within six months of graduation, with average salaries of around CAD 112,897 (INR 68.6L)
• Ivey Business School: Noted for its case-based learning approach, leading to high employment rates and competitive salaries. 

3. Post-Graduation Work Opportunities

75% of PGWP Canada holders transition to permanent residence within five years, with the highest transition rates among college and master's program graduates. Thus, the Post-Graduation Work Permit Program (PGWPP) is crucial in supporting international students and contributing to Canada's economy.

4. Cultural and Quality Education

Indian students now represent 40% of all international students in Canada, a dominant share that underscores their growing presence in Canadian higher education. This reflects Canada’s appeal as a top destination for Indian students seeking cultural diversity and quality education.

6. Recent Policy Changes

It's important to note recent policy adjustments affecting international students:​

• In 2025, Canada plans to issue 437,000 study permits, approximately a 10% reduction from the previous year's cap. 
• This strategic adjustment aims to optimize the international student intake, ensuring better access to housing, healthcare, and essential services while maintaining high education and student support.

Considering these factors, Indian students can expect better career prospects. Now, let’s look at some of the most common types of MBA programs in Canada.

Types of MBA Programs in Canada

Canada offers various MBA formats to cater to different student needs and career goals.

• Full-Time MBA – A traditional 1-2 year program designed for professionals looking to advance their careers.
• Part-Time MBA – A flexible MBA option for working professionals who want to study while working.
• Executive MBA (EMBA) – Tailored for experienced professionals and executives looking for leadership roles.
• Online MBA – A fully remote program designed for those who need flexibility in their studies.
• Dual-Degree MBA – A combination of an MBA with another field (e.g., MBA + Engineering, MBA + Healthcare).

Further Read: MBA in India vs MBA Abroad - Which one is better?

Next, let’s explore the eligibility criteria for top MBA colleges in Canada. 

Eligibility Criteria for MBA in Canada

When considering an MBA in Canada, meeting the top universities' specific academic and professional requirements is essential, as it directly impacts your admission chances to get admission to best universities in Canada for MBA. 

Failure to meet these standards could limit access to high-quality programs, scholarships, and valuable networking opportunities.

Understanding the eligibility allows you to smoothly navigate the admissions process and ensure your application stands out. Here's an overview of the general requirements:

1. Academic Requirements

Before applying for an MBA in Canada, students must meet specific academic criteria.

• A bachelor’s degree from a recognized university (minimum GPA: 3.0/4.0 or equivalent).
• Some universities may require prerequisite courses in business, economics, or mathematics.

2. Work Experience Requirements

Most Canadian universities prefer students with prior work experience.

• Full-time MBA: 2-5 years of professional experience required.
• Executive MBA: 5-10 years of work experience, including managerial roles.
• Some universities offer MBAs without work experience, but these programs are limited.

3. Entrance Exam Requirements

To apply for an MBA in Canada, students must submit their test scores:

• GMAT/GRE: Required by most universities. Competitive GMAT scores range from 550-700.
• English Proficiency Tests:
  • IELTS: Minimum 6.5 – 7.0 band.
  • TOEFL: Minimum 90 – 100 score.

4. Other Key Requirements

• Statement of Purpose (SOP): Explaining career goals and why the applicant chose a specific university.
• Letters of Recommendation (LORs): From professors or employers.
• Resume/CV: Highlighting academic and professional achievements.

To learn more about specific eligibility requirements for Indian students applying for an MBA in Canada, including visa and other country-specific details, you can check out our comprehensive guide on Eligibility for MBA in Canada for Indian Students. 

This resource will help you navigate additional requirements and provide tips for a successful application.

Next, let’s explore the admission process, including application timelines, required documents, and tips for a successful application.​

Admission Process for MBA in Canada

Applying for an MBA in Canada requires careful planning, especially for Indian students, as competition is intense. Incomplete or poorly executed applications can lead to rejection, as seen in the 40% rejection rate for Canadian study visa applications from India.

By meeting the MBA in Canada eligibility requirements, preparing all necessary documents, and staying organized, you can significantly improve your  chances of securing admission to top MBA colleges in Canada. 

Below is a step-by-step guide to help you successfully navigate the admission process for MBA in Canada: 

1. Research & Shortlist Universities

Start by researching and selecting universities that offer MBA programs in Canada aligned with your career goals. Consider factors such as top MBA in Canada rankings, specializations, and MBA in Canada fees. 

2. Prepare for GMAT/GRE & English Proficiency Tests

Most programs require GMAT or GRE scores. Prepare and aim for competitive scores (GMAT Scores: 550-700). Also, ensure you meet English proficiency requirements (IELTS: 6.5-7.0 or TOEFL: 90-100). These tests are mandatory for admission into most best universities in Canada for MBA.

3. Gather Application Documents

Prepare key documents such as your SOP, LORs, resume, and academic transcripts. These are critical for applications to MBA colleges in Canada.

4. Submit Applications & Pay Fees

Complete your application through university portals before deadlines and pay the application fee (typically CAD 100-200, INR 6K-12K). Paying attention to deadlines improves your chances of securing admission into top MBA schools in Canada.

5. Attend Interviews (if required)

Some programs may require interviews to assess your fit for the program. Be ready to discuss your goals, experience, and aspirations for pursuing an MBA in Canada. 

6. Receive Admission Decision & Confirm Enrollment

Upon receiving an offer, confirm your enrollment by paying the required deposit. Then, you are ready to start your journey in one of the top MBA colleges in Canada. 

Also Read: Documents Required to Study Abroad: A Complete List

Read more: MBA in Canada Without GMAT  No-Exam Options You Should Know

Next, let's explore some of the popular universities offering MBAs in Canada and what makes them stand out!

Top Universities to Study MBA in Canada

Some of the best MBA colleges in Canada consistently feature in global rankings, with institutions like the University of Toronto's Rotman School of Management (#39) and McGill University(#66) consistently making the QS MBA rankings. 

These schools offer not only comprehensive academic frameworks but also strong ties with industriesand strong placement opportunities, ensuring MBA graduate salaries in Canada remain highly competitive.

Below is a list of the top 10 MBA universities in Canada, highlighting their QS Global MBA ranking, tuition fees in CAD and INR, and program duration.

Note: 

• Rankings are based on the QS Global MBA Rankings 2025. Tuition fees are approximate and may vary based on course selection and other factors.
• All income values are in CAD, with approximate conversions to INR based on exchange rates.

It's advisable to visit the official websites of these institutions for the most accurate and up-to-date information regarding MBA in Canada fees, program duration, and application deadlines.​

Considering studying MBA in Canada? With upGrad's personalized study abroad programs, receive expert guidance every step of the way, from top MBA colleges in Canada admissions to visa support and beyond! 

Having explored top universities in Canada for MBA, let's take a closer look at some of the key specializations of MBA!

MBA Specialization in Canada

Choosing the right specialization for your MBA in Canada is one of the most important decisions you'll make during your business school journey. In Canada, top business schools offer a range of specializations aligned with current industry demands. 

Whether you're looking to advance in traditional fields like finance and marketing or exploring emerging areas like operations and strategy,  Canada’s MBA programs in top colleges provide the flexibility and expertise to help you achieve your career goals. 

Here's an in-depth look at the fundamental MBA specializations in Canada and their key focus.

Note: These specializations are particularly relevant for Indian students aiming for global careers or permanent residency in Canada.

As Indian students look to make their mark in global industries, pursuing an MBA in Canada, specializing in one of these fields will open up numerous career opportunities both in Canada and worldwide. 

Let's explore the different financial aid and scholarship opportunities available for international students in Canada, which can help reduce the overall MBA in Canada cost.

Scholarships and Financial Aid for MBA in Canada

Pursuing an MBA in Canada is a significant investment, but numerous scholarships and financial aid options are available to help offset costs. 

Below is a comprehensive overview of government scholarships, university-specific scholarships, and external funding opportunities:

Note: Be sure to check each scholarship's deadlines and eligibility criteria to maximize your chances of securing funding.

For more detailed information on the eligibility criteria, selection process, and additional scholarship opportunities for MBA students in Canada, be sure to check out our comprehensive guide on Scholarships for MBA in Canada – Eligibility & Selection. 

This resource will help you understand how to apply for various scholarships and increase your chances of securing financial aid.

How to Apply for MBA Scholarships in Canada?

Securing an  MBA in Canada scholarship requires strategic preparation, attention to detail, and timely execution. Follow these key steps to increase your chances of success in best MBA colleges in Canada:

1. Research Scholarships
Explore scholarship options on university websites. Focus on eligibility, deadlines, and whether the scholarships are merit-based or need-based.

2. Verify Eligibility
Ensure you meet the academic, professional, and specific requirements. Many scholarships require a minimum GPA, relevant work experience, and leadership potential.

3. Prepare Documents
Gather and organize the necessary documents well in advance:

• Statement of Purpose (SOP)
• 2-3 Letters of Recommendation (Typically, 2-3 LORs are required)
• Academic Transcripts & Resume/CV

4. Complete the Application
Carefully fill out the application forms, attach all required documents, and submit them on time.

5. Follow-Up
If shortlisted, prepare for interviews by reviewing your application and aligning your goals with the scholarship’s objectives.

By following these steps and providing well-prepared documentation, you can significantly improve your chances of securing a scholarship for your MBA in Canada.

Considering an education loan? Use upGrad's Education Loan Calculator to estimate monthly payments, interest rates, and loan tenure, helping you make informed financial decisions!

Also Read: Education Loan For Study Abroad

Cost of Studying for an MBA in Canada

Studying for an MBA in Canada is a significant financial commitment, but it offers excellent returns in terms of career opportunities and personal growth. 

The total cost of studying in Canada includes not only tuition fees but also living expenses such as accommodation, food, and transportation. Understanding the financial requirements upfront can help you plan your budget and explore cost-saving options.

Tuition Fees for MBA in Canada

The MBA in Canada fees can vary depending on the university, program duration, and the type of MBA (full-time, executive, or part-time). On average, the tuition fees for an MBA in Canada range between CAD 80,000 – 125,000 (INR 48L – 75L). 

The fees may be higher at prestigious business schools like the University of Toronto (Rotman) or Western University (Ivey) and lower at smaller or regional universities.

Living Expenses for MBA Students in Canada

In addition to tuition, you’ll need to budget for living expenses, which vary depending on the city and lifestyle. On average, living costs for MBA students in Canada are as follows:

• Accommodation: CAD 10,000 – 20,000 (INR 6L – 12L) per year. Costs vary by location; larger cities like Toronto or Vancouver tend to have higher rental prices compared to smaller cities.
• Food & Transport: CAD 8,000 – 12,000 (INR 4.8L – 7.2L) per year. This includes grocery shopping, eating out, and local transportation (bus, metro, etc.).

To gain a more detailed breakdown of the tuition fees, living expenses, and other costs involved in pursuing an MBA in Canada, along with insights into the best universities for your MBA, you can explore our dedicated guide on Cost of MBA in Canada: Top Universities, Fees & Cost of Living. 

This guide will help you better understand the financial commitment and make informed decisions about your education.

Some of the key considerations and tips you must keep in mind:

• Currency Exchange: Be mindful of fluctuations between your home currency and CAD.​
• Part-Time Work: Student visas permit up to 20 hours of work per week during academic terms and full-time during breaks, which can help offset living expenses.​
• Budget Planning: Develop a detailed budget that aligns with your spending habits and accounts for unforeseen expenses.​

It's advisable to consult the official websites of the universities you're interested in for the most accurate and up-to-date information regarding MBA in Canada fees and living costs.

Also Read: Cost of Living in Canada: How Expensive Is Canada for Indians?

Read more: Cheapest MBA in Canada for International Students

Job Opportunities & Salary After MBA in Canada

After completing an MBA in Canada, graduates are well-positioned to enter a variety of high-paying and rewarding job roles across different industries. 

Canada's growing business environment offers ample opportunities in management, finance, consulting, tech, and more. 

Below are some of the top roles available to MBA graduates, along with average annual salaries and recruiter-specific insights:

Source: Glassdoor

Note: 

• All income values are in CAD, with approximate conversions to INR based on exchange rates.
• Salary ranges are approximate and can vary based on experience, location, and company size.​

Top Recruiters for MBA Graduates in Canada

Canada is home to several top-tier companies across various industries, making it an attractive destination for MBA graduates seeking rewarding career opportunities. 

These companies value the skills, leadership potential, and strategic thinking that MBA graduates bring to the table. 

Below is a list of some of the top recruiters in Canada that regularly hire MBA graduates.

Work Permits & PR Pathways for MBA Graduates:

• Post-Graduation Work Permit (PGWP):

Upon completing an MBA, international students are eligible for a Post-Graduation Work Permit (PGWP), which allows them to stay and work in Canada for up to 3 years. This provides an excellent opportunity to gain work experience and transition into permanent employment.

• Express Entry & PR Pathways:

MBA graduates from Canadian institutions are also eligible to apply for Permanent Residency (PR) through Canada’s Express Entry system. With the experience gained from a Canadian employer and the qualifications obtained from a recognized institution, graduates have a strong pathway to securing Canadian PR.

Conclusion

An MBA in Canada offers exceptional career prospects across various industries, from finance and marketing to tech and entrepreneurship. With top universities in Canada for MBA, diverse MBA specializations in Canada, and abundant scholarship opportunities, pursuing an MBA in Canada is a strategic investment in your future. 

By understanding MBA in Canada costs, available financial aid, and potential job roles, you can make an informed decision about your next step. So why wait?  

Book a free counseling session with upGrad’s experienced advisors today. Get expert guidance on selecting the right top MBA colleges in Canada, crafting a standout application, and making your dream of studying an MBA in Canada a reality!